The 4 Dilemmas of Breakthrough Market Strategy for start-up
What is Market Strategy? How will we make our product sell, and our Start-Up succeed? How should we address the market? Who are our best customers or consumers? Where will we find them? How will we make them buy our product?
These are fundamental questions. Finding the answers will allow you to decide on your Market Strategy and draw a clear, reliable and doable plan for your marketing and sales activities to reach your business goals. A clear and focused Market Strategy will shorten and quicken your way to your market and even more than that - will make it succeed!
How will it happen? It will happen because looking for the answers on the basis of your Market Strategy will allow you to have an upside-down look: to look at your product from the view point of your potential customers or consumers.
Why should I do it ??? You should, because the money you are looking for is (still...) in the pockets of your customers. Once you will understand how they see your product, you will get the answer how to make them buy it.
Where should I start from? You should start by looking for the answers to four questions:
1. How should we define our product? Meaning: what your product is or can be, for different types of customers or consumers? And who will need it most?
2. At what market are we playing? When your potential customers consider buying your product, what will be the category, they will classify your product in? Or, should you invent a new category for your product? It is, a lot of times, a new, non- existing product that is the beginning of a new market.
3. How do we know who is our potential customer, the one that will pay for, or use our product most? It's simple! ( No it's not! However, there are clear ways to find the answer). You should look at alternative products or different behaviors people are doing, in order to satisfy their need or pain. Those who look most for a solution to satisfy their needs are the customers you are looking for.
4. How will we convince them to use or buy our product?? By understanding their driver – the most intensive feeling, thought or behavior that will remind them of their need or pain and will make them take action in order to satisfy that need or cure the pain.
I'll be happy to hear your thoughts. Please write your comment, mail … or call me. Best, Hayut.